Baxter: FMR LLC Reports 10.3% Stake (52.97M shares)

Baxter International Inc. files Amendment No. 2 to Schedule 13G/A reporting 52,972,914.27 shares of Common Stock beneficially owned, representing 10.3% of the class.

Rhea-AI Filing Summary

Baxter International Inc. files Amendment No. 2 to Schedule 13G/A reporting 52,972,914.27 shares of Common Stock beneficially owned, representing 10.3% of the class. The filing names FMR LLC as the holder with sole dispositive power for that amount and notes related power-of-attorney exhibits.

Insights

Institutional Ownership Analyst

Fidelity (FMR LLC) reports a 10.3% stake in Baxter with full dispositive power.

FMR LLC is disclosed as beneficial owner of 52,972,914.27 shares with sole dispositive power. The filing is an amendment to prior Schedule 13G/A entries and references power-of-attorney exhibits for signature authority.

Cash-flow treatment or sale intent is not stated; subsequent filings would show any trading activity by the holder.

Compliance & Regulatory Specialist

The amendment documents beneficial ownership and procedural exhibits, not a corporate action.

The schedule clarifies voting and dispositive powers: sole voting power is listed for FMR LLC in the cover data and shared powers are zero. Item 6 notes that other persons may receive proceeds but no single other person exceeds 5%.

Filing references Exhibit 99 and prior Exhibits 24 for power-of-attorney; review of those exhibits is needed for entity-level attribution.

Key Figures

Beneficially owned: 52,972,914.27 shares Percent of class: 10.3% Sole dispositive power: 52,972,914.27 shares

3 metrics

Beneficially owned 52,972,914.27 shares Amount beneficially owned reported on Schedule 13G/A

Percent of class 10.3% Percent of common stock reported in Item 4(b)

Sole dispositive power 52,972,914.27 shares Reported sole power to dispose in cover responses and Item 4

Key Terms

Beneficially owned, Sole dispositive power, Schedule 13G/A

3 terms

Beneficially owned regulatory

"Item 4. | Ownership (a) | Amount beneficially owned: 52972914.27"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole dispositive power regulatory

"7 | Sole Dispositive Power 52,972,914.27"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G/A regulatory

"Item 1. | (a) | Name of issuer: BAXTER INTERNATIONAL INC"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does FMR LLC report in BAX?

FMR LLC reports beneficial ownership of 52,972,914.27 shares, equal to 10.3% of Baxter's common stock. The filing states FMR LLC has sole dispositive power over those shares and lists voting/dispositive figures on the cover.

Who is the filing's reporting person for BAX?

The reporting person is FMR LLC with an address at 245 Summer Street, Boston, Massachusetts. The filing also references Abigail P. Johnson in connection with dispositive authority and related power-of-attorney exhibits.

Does the 13G/A amendment show voting control for the shares?

Yes; the cover data shows sole voting power and sole dispositive power figures attributed to FMR LLC for the reported 52,972,914.27 shares. Shared voting and dispositive powers are listed as 0.00.

Are other persons identified as holding more than 5% of BAX in this filing?

No; Item 6 states one or more other persons may have rights to dividends or sale proceeds but explicitly says no other single person's interest exceeds 5% of the outstanding common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/05/2026 - 10:13 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

BAXTER INTERNATIONAL INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

071813109

(CUSIP Number)

05/29/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 071813109

1

Names of Reporting Persons

FMR LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 34,816,875.71
6	Shared Voting Power 0.00
7	Sole Dispositive Power 52,972,914.27
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

52,972,914.27

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.3 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP Number(s): 071813109

1

Names of Reporting Persons

Abigail P. Johnson

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 52,972,914.27
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

52,972,914.27

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.3 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BAXTER INTERNATIONAL INC
(b)	Address of issuer's principal executive offices: One Baxter Parkway,Deerfield,IL,US,60015
Item 2.
(a)	Name of person filing: FMR LLC
(b)	Address or principal business office or, if none, residence: 245 Summer Street, Boston, Massachusetts 02210
(c)	Citizenship: Not applicable
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 071813109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 52972914.27
(b)	Percent of class: 10.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page.
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 52972914.27
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of BAXTER INTERNATIONAL INC. No one other person's interest in the COMMON STOCK of BAXTER INTERNATIONAL INC is more than five percent of the total outstanding COMMON STOCK.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See attached Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FMR LLC

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries*
Date:	06/04/2026

Abigail P. Johnson

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of January 26, 2023, by and on behalf of Abigail P. Johnson**
Date:	06/04/2026

Comments accompanying signature: * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. ** This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 31, 2023, accession number: 0000315066-23-000038.

Exhibit Information

Please see Exhibit 99 for 13d-1(k) (1) agreement.